Important Tax Forms forForeign Financial Transactions To get my complete, FREE articlewith all the details… With globalization of commerce, more and more individuals and businesses are conducting transactions with foreign entities. As a result, there is a growing need for tax reporting requirements to ensure that all income, assets, and transactions are properly … [Read more...]
Tax Policy
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Avoid Penalties on Early Withdrawals from Retirement Accounts
Avoid Penalties onEarly Withdrawalsfrom Retirement Accounts To get my complete, FREE articlewith all the details… Do you have money locked up in a retirement account that you’d love to get your hands on? Well, unfortunately, If you’re under age 59 1/2, you typically have to pay a 10% penalty tax on early withdrawals from your accounts. And this penalty tax is in … [Read more...]
SECURE 2.0 Adds New Escapes from the 10% Early Withdrawal Penalty
“SECURE 2.0 Adds New Escapesfrom the 10% Early Withdrawal Penalty” To get my complete, FREE articlewith all the details… The IRS can issue some confusing rulings, but the law is crystal clear on this point . . . If you withdraw your money from an IRA or other retirement account before you reach age 59 ½ , you’ll have to pay a hefty 10% penalty. Ouch! And this … [Read more...]
Antiques: an often-overlooked asset for businesses
An Often-Overlooked Asset for Businesses As a business owner, staying informed about tax deductions and wise investment choices is important. This February 2023 antiques article provides valuable information on how you can deduct the cost of certain antiques used in your business. The courts have established a legal precedent for your doing so by ruling in favor of … [Read more...]
Discover New Tax Strategies for RMDs under the SECURE 2.0 Act
Discover New Tax Strategies for RMDs under the SECURE 2.0 Act Are you aware of the required minimum distributions (RMDs) for your tax-deferred retirement accounts? The SECURE 2.0 Act has introduced new tax strategies for RMDs that could save you money and help you plan for retirement more effectively. This comprehensive article covers the essential details you need to … [Read more...]